Flipkart to Buy Stake in BookMyShow, Facebook Launches Food Ordering & Delivery Service in US & More

Here is a list of deals that happened in Indian Startup Ecosystem today. Below is a brief description about all of them:

1. Flipkart is in talks to buy a large minority stake in ticketing platform BookMyShow, as reported by LiveMint.

The online retailer wants to invest fresh capital into BookMyShow (Bigtree Entertainment Pvt. Ltd) as well as buy shares from some of its investors, according to the report.

BookMyShow which last raised Rs 550 crore in July 2016 from Stripes Group, Accel Partners, SAIF Partners and Network18, now may be valued at $500-700 million if the proposed deal goes through.

2. Online insurance aggregator RenewBuy has raised Rs 60 Cr funding from Amicus Capital, the growth-stage investment fund co-launched by former Carlyle Group managing director Mahesh Parasuraman. Gurgaon-based D2C Consulting, which owns and operates RenewBuy, had earlier received about $2.5 million in its Series A, which was led by Singapore-based Mount Nathan Advisors, and an undisclosed number of high net worth individuals.

3. Facebook has launched food ordering and delivery service for its users in the US. Users can order food for take-away or delivery directly through its app or website. The company has partnered with restaurants like Chipotle Mexican Grill, Jack in the Box, Five Guys, Papa John's, Wingstop, Panera, TGI Friday’s, Denny’s, El Pollo Loco, and Jimmy John’s. The service will be available on the web, iOS and Android.

4. Micro lending platform KrazyBee has raised $8 million in Series A equity and debt financing led by Xiaomi Technologies and Shunwei Capital with participation from E-city Ventures and RK Group.

Bengaluru-based company will use the capital to strengthen its risk model and core algorithm, geared towards catering to new market segments and focusing on product diversification. A portion of the funding will also be spent on geographical expansion in existing segments, reported Inc42.